HB1689: City of Olive Branch; extend date of repeal on hotel/motel tax and issuance of bonds for tourism, parks and recreation.

Legislative Summary

An Act To Amend Chapter 934, Local And Private Laws Of 2022, To Extend The Date Of Repeal From July 1, 2026, To July 1, 2029, On The Provision Of Law That Authorizes The Governing Authorities Of The City Of Olive Branch, Mississippi, To Levy A Tax Upon The Gross Sales Of Hotels And Motels Derived From Room Rentals For The Purposes Of Tourism And Parks And Recreation And That Authorizes The City To Issue General Obligation Bonds Or Incur Other Indebtedness In An Aggregate Principal Amount Not In Excess Of An Amount For Which Debt Service Is Capable Of Being Funded By The Proceeds Of The Special Sales Tax Levied Under This Act; And For Related Purposes.